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Editorial: 401(k)s aren’t the solution to Illinois governments’ pension woes
Headline: Editorial: 401(k)s aren’t the solution to Illinois governments’ pension woes
Publication: Chicago Sun-Times
Article Date: Mar 6, 2018
Following up on a recent New York Times article, the Chicago Sun-Times editorial board takes a pro-pension stance against those who mean to tear defined benefit savings plans down. Read article…
Opinion: Wall Street caused pension crisis, not cops and firefighters
Headline: Wall Street caused pension crisis, not cops and firefighters
Publication: Sacramento Bee
Article Date: Feb 16, 2018
This opinion piece points out that public employees consistently contribute to their retirement, while public agency contributions have flagged during years when the economy was booming, allowing taxpayers to make lower or no contributions. And when a recession strikes, instead of blaming the failings of Wall Street and years of public underfunding, critics blame hard-working public employees’ pensions of “crowding out” the very services those employees provide. Plus, most public retirees will have modest retirements and will contribute significantly to the economy. Read article…
The Real Reason the Investor Class Hates Pensions
Headline: The Real Reason the Investor Class Hates Pensions
Publication: New York Times
Article Date: Mar 5, 2018
This Op-ed points out the inadequacies of the 401(k) as a savings vehicle for millions of Americans not in the “1 percent.” Himself a 401(k) investor, the author admits the passive nature of the 401(k) investor and how “We let ourselves be charged high fees that we do not understand, we accept poor returns quarter after quarter, we never sue to enforce our rights, we never vote as shareholders and we never tell our investment managers how we think they ought to vote.” He then goes on to fact check those who would like to see defined benefit pension plans turned into 401(k)s. Read Op-ed…
Research Brief: Will the Financial Fragility of Retirees Increase?
Headline: Will the Financial Fragility of Retirees Increase?
Publication: Center for Retirement Research
Article Date: Feb 23, 2018
While this recent research suggests that the vast majority of current retirees can weather shocks such as high medical bills and widowhood, it also points out that future retirees face greater risk as most people are not saving enough and it is hard to manage a nest egg. Read article…
CalPERS pension or a 401(k)? State workers could choose under Democrat’s bill
Headline: CalPERS pension or a 401(k)? State workers could choose under Democrat’s bill
Publication: Sacramento Bee
Article Date: Feb 15, 2018
While a long shot to pass, under a bill submitted by a Senate Democrat, new state workers would have a choice about whether they want to join CalPERs. Read article…